Achieves Number One Market Position in Solar Equipment
NEW YORK--(BUSINESS WIRE)--Feb. 18, 2009--
Applied Materials today held its 2009 financial analyst day in New York
City. Applied’s executive team discussed the company’s plans for
preserving its strong financial position in the current economic crisis
while investing hundreds of millions of dollars in R&D to extend its
leadership in semiconductors, LCD display, crystalline silicon and
thin-film solar, and other energy and environmental products.
“By proactively addressing the challenges of the economic crisis and
industry downturn while maintaining our investments in the future,
Applied is demonstrating that we are built to last and built to win,”
stated Mike Splinter, president and CEO. “We have a strong balance
sheet, great products and technologies, and a unique ability to deliver
innovations that enable customers to manufacture their products on a
global industrial scale. These strengths are positioning Applied as a
new leader in solar, one of the most exciting areas in business today.”
This month, VLSI Research named Applied as the world’s largest supplier
of photovoltaic cell manufacturing equipment in 2008. Applied entered
the market in 2006.
George Davis, CFO, discussed how Applied’s early and decisive
cost-cutting and efficiency measures are lowering the Company’s
breakeven point and positioning Applied for profitable growth. “We are
balancing the need for cost savings with investments in our future
growth areas,” said Davis, who also discussed the company’s cash flow,
discipline and financial ability to take advantage of new opportunities.
Mark Pinto, CTO and general manager of the Environmental and Energy
Solutions Group, said: “Applied is driving down the cost of
photovoltaics to the levels necessary for adoption in large-scale solar
farm applications. Applied intends to enable utilities to deploy green
solar power at or below the cost of alternatives used in peak-load power
generation while avoiding the price swings and environmental damage
associated with petroleum products.” Pinto explained how scaling solar
is the real secret to driving the cost of solar-produced electricity to
price parity with fossil fuels, and pointed to other areas of Applied’s
solar business which have grown quickly. “Our crystalline silicon and
thin film business strategies have been successful, and our acquisitions
in these areas have been accretive, adding new products and
capabilities, and propelling Applied to a global leadership position in
solar.”
“With more than 100,000 SunFab thin-film panels produced to date, our
SunFab ramp continues at tremendous speed, with three SunFab customers
in volume production today, 14 lines under construction and 8 of those
lines already producing panels,” said Randhir Thakur, general manager of
the SunFab Thin Film Solar and Display Business Group. “We have already
achieved important panel certifications and we have moved rapidly down
the learning curve, shortening our cycle times and improving
productivity.” He added that the Display Group is focused on new
technology and decreasing customer cost while “broadening our product
footprint and expanding our market share with our new Gen. 10 CVD and
Pivot PVD systems.”
Tom St. Dennis, general manager, Silicon Systems, explained how the
company remains focused on growing its business in etch and inspection
while enhancing its market leadership in other areas such as metal,
front end, CVD, and CMP. “In past downturns, a steep recovery has
occurred at the end of the cycle,” stated St. Dennis. “While it is too
early to focus on when the upturn will be, we are working to have the
best products in place with customers who are key technology leaders.”
“In these challenging times, service is an important way for us to help
our customers as they look for ways to save money in their fabs and
increase productivity,” said Manfred Kerschbaum, general manager,
Applied Global Services. “Our service opportunity is expanding, as
customers in semiconductor, flat panel and solar look to us for our
expertise and wide range of products and services, including powerful
new remote service capabilities.”
Splinter concluded by reminding investors, “We don’t know how long the
recession will last, but we know Applied will last and emerge as a
stronger leader in all of our markets when the economic environment
improves.”
A webcast replay of Analyst Day is available at www.appliedmaterials.com.
Applied Materials, Inc. (Nasdaq:AMAT) is the global leader in
Nanomanufacturing Technology™ solutions with a broad portfolio of
innovative equipment, service and software products for the fabrication
of semiconductor chips, flat panel displays, solar photovoltaic cells,
flexible electronics and energy efficient glass. At Applied Materials,
we apply Nanomanufacturing Technology to improve the way people live.
Learn more at www.appliedmaterials.com.
Source: Applied Materials, Inc.
Applied Materials, Inc.
David Miller, 408-563-9582 (editorial/media)
Michael
Sullivan, 408-986-7977 (financial community)
